Tucked away in a quiet area of northern Morocco is the beautiful city of Tangiers. Many have said this gateway to the Arabic world for those in Europe showcases the mystic and romance of Morocco. This growing city has over 669,000 residents that make a home here.
In addition to its residents, Tangier welcomes several international educational centers. American School of Tangier, the Tangier Anglo Moroccan School and the English College of Tangier are among the most notable schools in the city.
Potential real estate foreign and Morocco investors and those looking for a second home are flocking to the area for all that it has to offer. Two popular streets to find the hottest properties are Avenue Mohamed VI on the beachfront and Place de France in Ville Nouvelle area.
Real estate experts have pegged the entire real estate market in Morocco as an up and coming powerhouse market. Within the next five years, several emerging projects will break onto the front page and wake the previous sleeping giant that is Moroccan realty. Keeping in line with the demand, there are several variations of property types for potential buyers to select from. Potential buyers have newly constructed properties or traditional homes showcasing the ancient architectural styles of Morocco as starting block. From there, the options expand to include quaint historical Moroccan riad properties that feature a garden as the central focal point of each property.
In either situation, a respectable villa in Morocco brings an asking price that is half the price for an equivalent villa in other parts of the globe. On average, a country home will arrive on the market with a $1,973 per square meter price tag.
Although the property market is booming, there are a few things to keep in mind before signing on the dotted line. The first essential piece of knowledge is making sure that the property deed for the deal matches the actual property in the transaction. Local governing agencies have been known to keep track of these documents haphazardly and recording errors are incurred. Without a matching property deed, there is no legitimate ownership to the home despite a signed sales contract.
One favorable advantage to purchasing property in Morocco is the ease in which the process is completed. No restrictions are in place regarding selling a property. Securing financing is a breeze with mortgage lenders on virtually every business corner. A standard 20 per cent capital gain tax is assessed to each sale. With all of these benefits, it is easy to see why Tangier, Morocco, is a beautiful place to call home!
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by Sam Mitchell
